Agency Recommences Loan Authentication Services

Dec 4 , 2021

The Federal Document Authentication and Registration Agency (DARA) has commenced loan authentication services following the reinstatement of collateralized loans from commercial banks last week. The Agency had stopped authentication and validation services for loan agreements for the last four months as a result of the freeze on collateralized loans imposed by the National Bank of Ethiopia (NBE). However, the Agency has yet to resume other services such as the authentication of land title deed transfers, which it stopped providing earlier this year. Though the central bank had been exempting certain industries and sectors, including coffee and importers, from the freeze over the past few months, the Agency had not availed its authentication services.


Ethiopian Seafarers Contribute $50m Annually in Remittances

Ethiopian Maritime Authority disclosed 50 million dollars in annual remittances from seafarers deployed internationally. Abdulber Shemsu, the director general of the Authority, said Ethiopia's membership in the International Maritime Organisation (IMO), establishes global standards and guidelines for safe, secure, and environmentally sustainable shipping practices. With 176 member countries and three associate member countries, including Ethiopia, the IMO provides a framework for ensuring...


AfDB Launches $1.5m Initiative to Propel Agro-Industrial Parks

A 1.5 million dollar initiative for the development of three Agro-industrial parks was commenced last week. Financed by the African Development Bank (AfDB), the project includes feasibility studies, a master plan, and an environmental and social impact assessment. The Phase Two project, which includes capacity building for stakeholders, was initiated last week with an agreement between Semereta Sewasew, state minister for Finance and Gunther Beger, managing director of UNIDO. Semereta said...


Cabinet Approves Public Service Legislation

Council of Ministers has unanimously approved the legislation that aims to raise the competency and professionalism of public service in the country. The Federal Civil Servants Proclamation is pending ratification from Parliament. The decision was made during the 30th meeting of the Cabinet last week, which follows the ratification of the public service and administrative policy. Currently, the 176 federal agencies within 22 ministries, collectively employ around two million people. The polic...